AGQ vs. BITO
Compare and contrast key facts about ProShares Ultra Silver (AGQ) and ProShares Bitcoin Strategy ETF (BITO).
AGQ and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGQ is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (200%). It was launched on Dec 1, 2008. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
AGQ vs. BITO - Performance Comparison
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AGQ vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -23.34% | 360.71% | 23.92% | -15.09% | -7.89% | -4.95% |
BITO ProShares Bitcoin Strategy ETF | -22.79% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
The year-to-date returns for both investments are quite close, with AGQ having a -23.34% return and BITO slightly higher at -22.79%.
AGQ
- 1D
- -0.50%
- 1M
- -32.70%
- YTD
- -23.34%
- 6M
- 51.96%
- 1Y
- 163.54%
- 3Y*
- 56.15%
- 5Y*
- 22.66%
- 10Y*
- 14.25%
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
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AGQ vs. BITO - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than BITO's 0.95% expense ratio.
Return for Risk
AGQ vs. BITO — Risk / Return Rank
AGQ
BITO
AGQ vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares Bitcoin Strategy ETF (BITO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AGQ | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.40 | -0.52 | +1.91 |
Sortino ratioReturn per unit of downside risk | 2.00 | -0.50 | +2.50 |
Omega ratioGain probability vs. loss probability | 1.35 | 0.94 | +0.41 |
Calmar ratioReturn relative to maximum drawdown | 2.07 | -0.42 | +2.49 |
Martin ratioReturn relative to average drawdown | 5.57 | -0.89 | +6.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGQ | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | -0.52 | +1.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.08 | +0.16 |
Correlation
The correlation between AGQ and BITO is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AGQ vs. BITO - Dividend Comparison
AGQ has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 80.47%.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% |
Drawdowns
AGQ vs. BITO - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for AGQ and BITO.
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Drawdown Indicators
| AGQ | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -77.86% | -20.30% |
Max Drawdown (1Y)Largest decline over 1 year | -76.21% | -50.05% | -26.16% |
Max Drawdown (5Y)Largest decline over 5 years | -76.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | — | — |
Current DrawdownCurrent decline from peak | -83.72% | -46.75% | -36.97% |
Average DrawdownAverage peak-to-trough decline | -79.83% | -36.57% | -43.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.27% | 23.73% | +4.54% |
Volatility
AGQ vs. BITO - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 34.37% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.84%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.37% | 12.84% | +21.53% |
Volatility (6M)Calculated over the trailing 6-month period | 132.42% | 36.71% | +95.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.90% | 45.32% | +72.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.01% | 55.77% | +17.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.67% | 55.77% | +8.90% |